After the recent period of stagnation marked by the country’s economic crisis, Greek banks have returned to steadily increasing rates in housing loans.
In 2024, according to converging estimates from banks, euros, an amount increased by approximately 38% compared to 2023, when 1.3 billion euros had been granted. This rise is recorded in a market that had hit historic lows, with just 300 million euros annually during the deep crisis, rising to 600 million euros in 2020, which marked the beginning of the gradually increasing trend in new disbursements.
The first four months of 2025 confirm the positive trend, with disbursements exceeding 500 million euros, while bank estimates agree that last year’s performance will be surpassed, thanks in part to the boost provided by the “MY HOME II” program.
The average housing loan today ranges between 110,000 euros and 120,000 euros, while the approval rate for new applications exceeds 70%. As responsible banking executives have pointed out in public statements, the banking system has now upgraded its infrastructure and, more generally, its loan evaluation units, with trained staff and modern systems that allow faster and more reliable assessments of the creditworthiness of prospective borrowers.
However, as banking executives acknowledge, the rapid recovery of housing credit faces the challenge of a limited supply of properties compared to demand, which is expected to be gradually resolved due to interventions announced by the government.
The average housing loan stands at around 120,000 euros, and the approval rate approaches 80%, as most applicants do not have outstanding issues that create problems during the evaluation process. The typical borrower profile is between 35 and 50 years old, with one or two children, seeking to purchase a first home property between 80 and 120 square meters.